Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Core & Main Inc shares valued at $2,925,730 were sold by Witkowski Mark R on Apr 08 ’24. At $58.51 per share, Witkowski Mark R sold 50,000 shares. The insider’s holdings dropped to 23,898 shares worth approximately $1.31 million following the completion of this transaction.
Also, Whittenburg Mark G sold 50,000 shares, netting a total of over 2,895,605 in proceeds. Following the sale of shares at $57.91 each, the insider now holds 12,933 shares.
Before that, Stephens John Weldon had sold 15,000 shares from its account. In a trade valued at $868,706, the Chief Accounting Officer traded Core & Main Inc shares for $57.91 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $0.23 million.
As published in a research note from Citigroup on April 05, 2024, Core & Main Inc [CNM] has been rated down from a Buy to a Neutral and the price target has been revised to $64 from $63. Analysts at Citigroup upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in early January. As of October 12, 2023, Wolfe Research has increased its “Peer perform” rating to a “an Outperform” for CNM. Earlier on June 13, 2023, Northcoast initiated its rating. Their recommendation was “a Buy” for CNM stock.
Analyzing CNM Stock Performance
During the last five days, there has been a drop of approximately -4.40%. Over the course of the year, Core & Main Inc shares have jumped approximately 35.54%. Shares of the company reached a 52-week high of $60.83 on 04/04/24 and a 52-week low of $38.51 on 01/04/24. A 50-day SMA is recorded $51.14, while a 200-day SMA reached $38.07. Nevertheless, trading volume fell to 1.54 million shares from 1.91 million shares the previous day.
Support And Resistance Levels for Core & Main Inc (CNM)
According to the 24-hour chart, there is a support level at 54.01, which, if violated, would cause prices to drop to 53.26. In the upper region, resistance lies at 55.73. The next price resistance is at 56.70. RSI (Relative Strength Index) is 49.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.10, which suggests the price will decrease in the coming days. Percent R is at 91.67%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
